Statement by the President on EU Approval
of Boeing-McDonnell Douglas Merger

I am pleased that Boeing and the EU have resolved their differences,
and that the EU has agreed in principle to approve Boeing's merger
with McDonnell Douglas. The Boeing-McDonnell Douglas merger will
promote consolidation and efficiency in the U.S. defense industry,
and preserve the jobs of 14,000 workers at Douglas Aircraft Company.
Our own independent Federal Trade Commission determined that the
merger would not harm competition. We hope that the EU will give
the merger final approval expeditiously.